Dubai – Mubasher: Mashreq Bank reported on Wednesday a net profit of AED 2.402 billion in 2015, 0.03% higher than 2014’s AED 2.401 billion.
Earnings per share reached AED 13.53 last year, according to the bank’s financial statements.
Net interest income declined 1.6% to AED 813 million in the fourth quarter of fiscal year 2015, compared to AED 826 million in the third quarter of the same year.
Net fee and commission income slightly rose by 0.9% to AED 1.7 billion, making up 63.5% of total non-interest income in 2015, compared to 60.9% in 2014.
Operating expenses increased 11.9% year-on-year and 7.7% quarter-on-quarter to AED 2.5 billion.
Total loan and advances provisions reached AED 2.8 billion, covering 145% of bad loans. Total customer deposits surged 7.5% y/y to AED 73.6 billion and 0.8% quarter on quarter to AED 73.1 billion, while Islamic deposits and traditional deposits shot up 61.9% and 3.1% respectively.
Loan to deposit ration reached 81.7% in 2015, versus 84.8% in 2014.
Translated by: Elwy el-Manzalawy
